Planning advice for Microsoft Accounting Automation software and Dynamics 365...Read More
More and more organizations are centralizing their accounting functions and finance teams to deliver accurate financial reporting, faster month-end close, scalable procedures and reduced audit efforts etc. Across industries accounting teams with many
legal entities, frequent acquisitions and high growth have unique needs for full or partial accounting automation capabilities. Many ERP packages are causing accounting teams to waste expensive time, introducing delays and data errors.
The Avantiico Multi-Company Automation solution for Dynamics 365 Finance provides accounting teams with the tools to manage large scale and centralized accounting operations for multi-company businesses. Typical use cases include Dynamics 365 Finance for Shared Service centers, Franchise Accounting teams and centralized accounting functions.
Looking for far less manual work and more accounting process automation for Microsoft Dynamics 365? The Multi-Company Automation makes large scale accounting operations efficient, saving keystrokes, time, and money.
Standard Dynamics 365 Finance accounting features meet the needs of most advanced enterprises looking to automate their accounting and financial reporting. Such tools include but are not limited to: advanced D365 journals, reports and inquiries, and Excel uploads. Purpose built and centralized accounting software design is essential for supporting specific business models. For example high growth business models in retail for franchise businesses, finance shared service centers offering accounting services and businesses with many legal entities.
To address the multi company accounting automation software needs in Dynamics 365 Finance, Avantiico experts have developed Multi-Company Accounting Automation. The solution adds integration, automation and reporting functionality relevant to all industries using Dynamics 365 Finance and unlocks Dynamics 365 full potential for automating centralized multi-company financials.
The Avantiico Multi-Company Automation enables the user to validate and post journals for multiple companies from within a single journal in Dynamics 365.
In standard Dynamics 365, journals are limited allowing the user to only process the journals for one company or legal entity at a time. With Multi-Company Automation users can ingest data into Dynamics 365 journals and post across anywhere from 5, 25, 50 or 500+ legal entities from within a single Dynamics 365 journal.
The solution minimizes the number of keystrokes and operational steps the user must execute to process journals for multiple companies. Therefore the solution saves accounting teams considerable time and cost. Additionally, the risk of human error and data corruption is reduced. The possibility of posting journal data into the wrong company is heavily mitigated by built in journal validation tools in Avantiico solution.
Accounting automation capabilities for Multi-Company journals are available for most journals such as:
Another feature the automation solution adds to Dynamics 365 Finance is reporting and inquiring simultaneously for any number of legal entities or companies from within any company. A limitation of the standard Dynamics 365 Finance application is that all financial reports and inquiries must be run individually from each relevant company. The Avantiico solution allows for one “master” activity that creates reports and inquiries for all selected legal entities in one go, while still delivering output at a company level.
For example, if your business is responsible for the financial management of 250 companies, currently you would have to change current legal entity in Dynamics 365 Finance 250 times and from each legal entity you would have to run individual reports or inquiries for each legal entity. The Avantiico tool still outputs 250 reports or inquiries, but in one consolidated operation instead of 250. This is the case for any report or inquiry, including 1099 tax reports.
Operational hierarchies in Dynamics Finance 365 are easily defined between bookkeepers, accountants, and the companies they are responsible for using the Avantiico Centralized Multi-Company solution set-up. Furthermore, company type and reporting segregation can be simply determined.
Interested in learning how the Multi-Company Automation Solution can help your accounting team and business? Fill out the form below to request a solution demo.
Is your accounting team frequently creating new legal entities and setting these companies up manually?
A significant time-saving feature in the Avantiico Multi-Company Automation solution is the ability to automate and expedite creation of basic Dynamics 365 Finance legal entities through an Excel import.
The Dynamics 365 company copy feature works for any company or legal entity in Dynamics 365 that already has company information, chart of accounts, calendars and currency already defined in an Excel spreadsheet. In standard Dynamics 365 Finance, legal entity record and ledger setup must be created manually for each legal entity. The Avantiico solution creates these automatically during the Excel upload. This means countless hours of setup work are saved compared to the standard solution.
Book a free accounting automation assessment consultation with Avantiico’s Dynamics 365 Finance team. Find the best multi-entity accounting software for your business to save money and improve operations.
Discover how Avantiico helps you improve business processes, provide customers with a seamless experience and transform the way you do business.